COP28 officially approves climate disaster fund deal

On Thursday, delegates at the U.N. COP28 climate summit formally approved an agreement on a new climate disaster fund.

Therefore, delegates gave a standing ovation after the COP28 summit officially adopted the new climate disaster fund deal at the opening ceremony.

The agreement was the result of careful negotiations among developed and developing countries this year. It will create a fund to support vulnerable nations with the expenses of climate-related damages from drought, floods and rising seas.

Sultan al-Jaber, COP28 president, said the decision sent a “positive signal of momentum to the world and to our work here in Dubai.”, according to Reuters.